A Charlottesville/Albemarle Area RE Blog tracking the market's Boom Bubble Bust Bounce, from 2008 to 2013. The second half of 2010 saw a steep downward spiral in sales; 2011 saw sales volume at 13 yr lo with prices dropping each Quarter. 2012 began with even lower prices which resulted in an uptick in Y/Y sales, and mid-2012 saw "Carpe Diem" trumping "Caveat Emptor." 2013: Booming. Are we a "Protected Market" once again? Time will tell.
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Monday, July 28, 2008

Suspects Arrested

MLS #451219606 Monticello Avenue$599,000.00

Suspects arrested in what appears to be gang shooting, according to the Daily Progress:

The suspects are known to associate with Charlottesville-area gangs, police said.

“There appears to have been a conflict between two groups,” Charlottesville Police Chief Timothy J. Longo said. “Suffice it to say, a conflict arose. Gunfire resulted.”

Magruder — also known as Spanky — may also have been a gang member. A memorial near the crime scene included bottles of Grey Goose vodka, stuffed animals, Newport cigarettes, a pinwheel and graffiti by the 6-N-O gang, which has long been associated with the area around the Friendship Court housing complex near the Downtown Mall.

“You can draw your own reasonable conclusions based on that tagging,” Longo said, adding that none of the individuals is a confirmed gang member. “The fact that there’s that sort of tagging on a memorial for someone who lost his life, that’s pretty remarkable.”

Va. Housing Development Authority market data for the local Realtors Assn. indicates rising foreclosures, declining prices, then "correction" at least 12 months away.Comparisons: See Current Median Home Prices in Cville, Alb, other parts of VA, and 20 other markets.

Home prices likely lower in 2011, in 85% of the United States' 381 metropolitan areas - PMI Group. Includes graphs.VP Biden - We "Misread the Economy" - VideoThe number of foreclosures keeps rising because mortgageholders can't afford the modifications. Read the data.

Halsey Minor, King of The Tyvek Tower, is being sued not just by contractors, but by the funding bank. TheLandmark Mess continues. City claims it will not bail out the blight on the landscape and a real contrast to the $7.5 million in bricks at the base of the steel girders.